Zijin Mining Sets Up Offshore Investment Fund with Two Canadian Partners

SHANGHAI, Sept. 9 (SMM) – Zijin Mining Group Co. is setting up an offshore investment fund in partnership with two Canadian companies with a target of raising $500 million.

Zijin Mining has put down $100 million to the fund while Toronto-listed Sprott Inc. has contributed $10 million, Zijin told Shanghai Stock Exchange over the weekend, adding that the fund is seeking for more contributions till it reaches $500 million target.

The fund, managed by both Zijin and Sprott, will be employed to make equity and bond investments in mainly gold, other precious metals and copper sectors, Zijin said. Toronto-based Americas Now Resources Investment Management Corp. supplies technology and marketing services to the fund, it added.